Blue Ant Media to go public via reverse takeover of Boat Rocker Media

Blue Ant Media Inc., currently a privately owned company controlled by Michael MacMillan, announced Monday morning it has entered into a definitive agreement that will see it go public via a reverse takeover of Boat Rocker Media Inc. (BRMI). Under the agreement, BRMI will acquire all of the outstanding shares of Blue Ant in exchange for subordinate voting shares of BRMI on the basis of an exchange ratio of 1.25 subordinate voting shares of BRMI for each share of Blue Ant. Based on a share price of $2.25 per Blue Ant share and the exchange ratio, the implied consideration under the transaction...